Principal Value ETF (NASDAQ:PY) Sees Significant Decline in Short Interest

Principal Value ETF (NASDAQ:PY) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 2,600 shares, a decline of 29.7% from the October 15th total of 3,700 shares. Based on an average trading volume of 4,400 shares, the short-interest ratio is currently 0.6 days.

Principal Value ETF Stock Down 0.4 %

Principal Value ETF stock traded down $0.23 during midday trading on Thursday, reaching $51.18. The company’s stock had a trading volume of 4,724 shares, compared to its average volume of 5,243. The company has a market cap of $78.30 million, a P/E ratio of 19.65 and a beta of 1.15. The business has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $47.54. Principal Value ETF has a fifty-two week low of $39.90 and a fifty-two week high of $51.70.

Institutional Investors Weigh In On Principal Value ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in Principal Value ETF by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 784,656 shares of the company’s stock worth $36,071,000 after acquiring an additional 128,901 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Principal Value ETF by 10.2% during the second quarter. Principal Financial Group Inc. now owns 287,518 shares of the company’s stock worth $13,217,000 after purchasing an additional 26,599 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Principal Value ETF by 2.6% during the third quarter. Principal Securities Inc. now owns 846,030 shares of the company’s stock worth $42,379,000 after purchasing an additional 21,608 shares in the last quarter.

About Principal Value ETF

The Principal Value ETF (PY) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that exhibit higher degrees of shareholder yield. PY was launched on Mar 21, 2016 and is managed by Principal.